XPL will be live for native deposits, withdrawals and trading on Sep 25th 1PM UTC.

Hyperion DeFi, Inc. (HYPD) just liquid staked another 380K HYPE ($18M) into iHYPE (“Kinetiq-staked HYPE for Institutions”), bringing their total liquid staked with Kinetiq to 880K HYPE ($41.5M).

https://hyperevmscan.io/tx/0x276e2ea962e50f5ded7f8e34b8186c15908546bc363a9ef06b0d4fd7d1464776

This wallet withdrew 80 BTC ($9M) from Kraken 2 hours ago, deposited it to Hyperliquid, sold it, and went long 4.7M ASTER ($9.4M) over the past 50 minutes at an average entry of $2.0918.

https://hypurrscan.io/address/0xC50aa1e77492ab1090dE92866Ae91303e9981d98

Over the past 5 days, there has been a total net HYPE sell pressure of $528M on Hyperliquid - $330M from perps and $198M from spot.

Thanks to infinitefield.xyz for providing the data!

He has withdrawn an additional $9M USDC from Coinbase and deposited it to Hyperliquid, while also withdrawing $5M USDC from HLP, buying a total of 329K HYPE ($14.8M) over the past 24 hours.

https://hypurrscan.io/address/0xad83d8fffa448e913d2795efdb868356e4291d99

USDH has yet to go live but there is already $15.5m minted on HyperEVM, surpassing the $9.1M total USDC supply. The stablecoin is expected to go live within days.

https://hyperevmscan.io/token/0x111111a1a0667d36bd57c0a9f569b98057111111

https://hyperevmscan.io/token/0xb88339cb7199b77e23db6e890353e22632ba630f

Infinitefield, one of the top market makers on Hyperliquid, just transferred an initial 250K USDH from HyperEVM to Hypercore and deposited 250K USDC into a new subaccount, ready to start market making USDH.

This follows a similar pattern to the Unit spot listings, where Infinitefield receives tokens in order to provide liquidity right at launch.

https://hypurrscan.io/address/0x4702a26b557741e6cdc6e4af454f045c05348c80

The USDH / USDC spot order book is now live on HyperCore.

We appreciate all of you who have onboarded with Native Markets for USDH minting and redeeming so far. Please feel free to reach out to us if you’d like to kick off your entity’s onboarding.

We’ll continue to share updates on Native Markets and USDH here going forward.

He sold another 177K HYPE ($7.8M) on this address between 1–2 hours ago, creating the local bottom, and deposited 6.463M USDT0 into Aster.

https://hypurrscan.io/address/0x1d8f930e9e00789d2a36f9390e30482ef21469aa

In total, he has sold 1.674M HYPE ($74.3M) and still holds 3.396M HYPE ($151M), meaning he has sold about 33.02% of his stack so far. (All values are calculated at current prices, so the USDC totals are likely higher since his average sell price was higher.)

For anyone interested, I made a post about this entity two weeks ago with all the wallets and history.

Pinning it here since it has some market impact and a lot of people asked.

https://x.com/mlmabc/status/1965389664891687348?s=46

A wallet linked to Dragonfly bought 72K HYPE ($3.3M) today, bringing its total holdings on this wallet to 256K HYPE ($11.5M).

https://hyperevmscan.io/address/0xf70c9547ca5016797d7fd9623320d653e82d83a5

During the past week, Technorevenant (yes again..) began unwinding his EVM positions, including swapping 625K KHYPE ($26.6M) into HYPE. His selling caused KHYPE to depeg by as much as 10%. I don’t have time right now to check all the details, so if someone can please do so! Based on my estimates, he was holding between 1.4M–1.5M HYPE ($60–65M) across these EVM protocols.

https://hyperevmscan.io/address/0x5a5b43dec2ceec2183b780987f8d6a6efbec6eb6

https://hyperevmscan.io/address/0xf04a274173cde34bf5b7e28f48b3f469510c3aab

Over the past 7 hours, he has sold 377K HYPE ($16.2M).

https://hypurrscan.io/address/0xce64652e46c23b9c3ea4b109d9252bae70d3881e

https://hypurrscan.io/address/0x794d30d20f6e2f19427a3f548d15757c52f477d0

https://hypurrscan.io/address/0xc88b467ef7be1170b0f5516731d74589ca0bf1ba

https://hypurrscan.io/address/0xb34c4efb86bb07be261ea5a0faf06ae4e50d80ed

UPDATE: Missed two wallets where he also sold HYPE - a total of 160K HYPE ($6.9M) about 30 hours ago.

https://hypurrscan.io/address/0x4be822eb8ee81af4831a97c5f805d1ac05d66aec

https://hypurrscan.io/address/0xa802d8eac1f113eb46746723f287ec05798c9232

Our friend (the HYPE whale) has accelerated selling and is now visibly wicking the price by a few % each time.

https://x.com/mlmabc/status/1971126725867094406

Since the top, over the past 7 days we’ve seen $283M of net spot HYPE selling and $380M on perps, totaling $663M in net sell pressure on Hyperliquid.

That pushed price down ~30%, wiping out $17.5B in FDV and $5.3B in market cap.

Abraxas Capital shorted 67.5M XPL ($57.4M) on Hyperliquid over the past 3 days.

https://hypurrscan.io/address/0xb83de012dba672c76a7dbbbf3e459cb59d7d6e36

https://hypurrscan.io/address/0x5b5d51203a0f9079f8aeb098a6523a13f298c060

My guess is they’re arbing the spread between Binance and Hyperliquid to catch the free arb, but still impressive to see them shorting such large size on a premarket.

They now make up around 20% of the total open interest on Hyperliquid and ~9% of all open interest. Over the past hour, they also deposited 75M USDC, likely for extra margin.

It’s not a directional bet but likely part of their Elysium Global Arbitrage Fund, which they are known for, meaning the position is market neutral

It looks like you can already deposit XPL to Hyperliquid. It’s not officially live yet and there’s no market maker support, but users figured out that your ETH deposit address is the same as your XPL deposit address.

XPL officially goes live on Hyperliquid in 45 minutes at 1PM UTC.

https://app.hyperliquid.xyz/trade/UXPL/USDC

So far, it has done over $500K in volume, with users depositing 250K+ XPL (~$200K).

https://plasmascan.to/address/0x8e88826F42A0f5f199a9c91C3798c626326730b4 (Unit Xpl Treasury Address on Plasma)

https://hypurrscan.io/address/0xe6111266afdcdf0b1fe8505028cc1f7419d798a7 (Unit Xpl Treasury Address on Hypercore)